The cap job is recent, and the amp is gig-ready; these little Gibson combos are the best amps out there for the money, in my opinion. Trem sounds GREAT, and this amp really kills. The speaker isn't original-- it's the same Jensen 10j11 that came in the amp originally, it's just a slightly older speaker. Sounds fantastic. The tubes are all vintage. The blonde tolex has some wear, but the amp looks nice. The grill cloth is in good shape. The logo and handle are great and fully intact.